In their latest report, Lazard Asset Management highlights that a brief U.S. government shutdown would have limited impact, though lasting cuts to agency headcount could weigh on growth. China’s PMI data is expected to stay weak absent new fiscal stimulus, while Japan’s Tankan survey showed resilience despite ongoing tariff pressures.
Lazard Asset Management serves as the Portfolio Manager of the Caldwell-Lazard CorePlus Infrastructure Fund.
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The information contained herein is intended to provide you with general information related to investment alternatives and strategies and is not intended to be comprehensive investment advice applicable to the circumstances of a specific investor. Commentary and portfolio characteristics are the opinion of the Portfolio Manager based on market conditions as of October 2025. References or inferences to returns do not take into account any management fees, transaction costs, commissions, custodial fees, taxes or other costs that apply when purchasing securities. We strongly recommend consulting with a professional advisor prior to making investment decisions.